Question:

What is bi-weekly mortgage amortization?

Answer:

Bi-weekly mortgage amortization occurs when a borrower chooses to make half a mortgage payment every two weeks. Thus, making 26 bi-weekly payments results in 13 regular monthly payments in a year which obviously leads to faster amortization.

Bi-weekly mortgage amortization programs have gained a lot of popularity promising quicker pay off and huge savings.

How to calculate the benefits from a bi-weekly mortgage amortization payment plan?

To calculate how you could possibly benefit from a bi-weekly mortgage amortization payment plan, you could use one of the online calculators specifically designed to calculate how bi-weekly amortization would affect your current mortgage plans. Using a calculator to estimate what could be saved with a bi-weekly mortgage amortization helps provide you with items to negotiate with your lender.

Often, a bi-monthly and bi-weekly mortgage amortization plans will be mistaken.

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Common misspellings: mortage and morgage